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ARTICLE · 28 SEPTEMBER 2020

Building An Ideal Non-Share Corporations Act

Gardiner Roberts LLP
Gardiner Roberts LLP
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After decades of seeking reforms to the corporate statutes governing non-profits and charities, lawyers across the country received a mishmash of statutes, each of which has its merits and demerits.

CanadaCorporate/Commercial Law
Clifford Goldfarb
Clifford Goldfarb
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CANADIAN BAR ASSOCIATION
Charity Law Online Presentation
Friday, May 22, 2020

Summary: After decades of seeking reforms to the corporate statutes governing non-profits and charities, lawyers across the country received a mishmash of statutes, each of which has its merits and demerits. But there is not one statute that stands out as superior to all the rest, and each statute has its often jaw-dropping shortcomings. Only three current statutes – Canada, B.C. and Saskatchewan – are modern. What would a non-share capital statute look like if it was drafted by the people who actually have to use it and justify it to their clients – charity and non-profit lawyers?

INTRODUCTION

  • A lot of things have happened since I first conceived of this talk. My intention was to take a lighthearted look at the current state of charity and non-profit corporate law ("CNFP"), maybe tell a few anecdotes about how we got here, and leave you with some suggestions about where we could

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